Mirae Asset Global Investments Co. Ltd. Sells 910 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Mirae Asset Global Investments Co. Ltd. lessened its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 5.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,608 shares of the industrial products company’s stock after selling 910 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Applied Industrial Technologies were worth $3,281,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Applied Industrial Technologies by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 5,072,162 shares of the industrial products company’s stock worth $875,912,000 after purchasing an additional 14,858 shares during the period. Dimensional Fund Advisors LP raised its stake in Applied Industrial Technologies by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 947,207 shares of the industrial products company’s stock valued at $163,575,000 after purchasing an additional 21,276 shares in the last quarter. Boston Trust Walden Corp lifted its position in shares of Applied Industrial Technologies by 5.4% during the 4th quarter. Boston Trust Walden Corp now owns 625,452 shares of the industrial products company’s stock worth $108,009,000 after buying an additional 32,282 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Applied Industrial Technologies by 978.3% in the 4th quarter. Capital Research Global Investors now owns 559,649 shares of the industrial products company’s stock valued at $96,646,000 after acquiring an additional 507,750 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Applied Industrial Technologies by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 559,037 shares of the industrial products company’s stock worth $96,540,000 after acquiring an additional 11,092 shares during the last quarter. 93.52% of the stock is owned by institutional investors.

Insider Transactions at Applied Industrial Technologies

In related news, VP Jason W. Vasquez sold 650 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $196.71, for a total transaction of $127,861.50. Following the completion of the sale, the vice president now owns 22,960 shares in the company, valued at $4,516,461.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Applied Industrial Technologies Price Performance

Shares of Applied Industrial Technologies stock opened at $191.21 on Friday. Applied Industrial Technologies, Inc. has a 12-month low of $138.38 and a 12-month high of $201.76. The firm has a market cap of $7.38 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 1.86 and a beta of 1.06. The company has a quick ratio of 2.70, a current ratio of 3.77 and a debt-to-equity ratio of 0.34. The company’s fifty day simple moving average is $191.60 and its two-hundred day simple moving average is $186.41.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Thursday, April 25th. The industrial products company reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.08. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Applied Industrial Technologies had a return on equity of 23.69% and a net margin of 8.36%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.38 EPS. As a group, equities analysts expect that Applied Industrial Technologies, Inc. will post 9.62 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be given a dividend of $0.37 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.48 annualized dividend and a yield of 0.77%. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 15.51%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Northcoast Research assumed coverage on shares of Applied Industrial Technologies in a research note on Monday, July 1st. They issued a “neutral” rating for the company. Oppenheimer started coverage on shares of Applied Industrial Technologies in a research note on Tuesday, April 2nd. They set an “outperform” rating and a $235.00 price target on the stock. Finally, KeyCorp boosted their price objective on Applied Industrial Technologies from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $201.00.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, automation solutions, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment.